Nov. 28 (Bloomberg) -- Fed funds, the U.S. overnight inter-bank lending rate, is projected to open at 0.16 percent to 0.18
percent, within the Federal Reserve’s target of zero to 0.25
percent.

Fed funds closed at 0.1 percent yesterday after trading
from 0.1 percent to 0.27 percent and averaging 0.16 percent,
according to ICAP Plc, the world’s largest inter-dealer broker.

The central bank will acquire Treasuries maturing from
February 2036 to February 2042. The purchases are part of the
Fed’s program to replace short-term debt in its portfolio with
longer-term Treasuries in an effort to keep borrowing costs low.

The central bank plans to purchase from $1.75 billion to
$2.25 billion of securities today, according to the New York
Fed’s website.